Charitable Funds
Great giving options. Choose the one that's right for you.
Donor Advised Funds
A personal approach to giving.
Establishing a Donor Advised Fund allows you to make a gift to your community foundation, then remain actively involved in suggesting uses for your gift. You can work with the community foundation's professional program staff to suggest ongoing uses for the fund - targeting the issues you care about most. Grant awards are issued to charities in the name of the fund (or anonymously if you prefer). It's a simple, powerful, and highly personal approach to giving.
Unrestricted Funds
Meeting ever-changing community needs.
When you establish an Unrestricted Fund, your gift can address a broad range of local needs - including future needs that often cannot be anticipated at the time your gift is made. We evaluate all aspects of community well-being: arts and culture, economic development, education, environment, health and human services, neighborhood revitalization, and more. The flexibility of your unrestricted gift enables your community foundation's program experts to respond to the community's most pressing needs, today and tomorrow.
Field of Interest Funds
Connecting personal values to high-impact opportunities.
By establishing a Field of Interest Fund, you can target your gift to address needs in an important area of community life. Arts. AIDS. Aging. At-risk youth. You identify your personal interest area when making your gift; our board awards grants to community organizations and programs that are making a difference in the area you select. Your gift stays flexible enough to meet community needs in your interest area - even as they change over time.
Scholarships
Investing in deserving students.
In creating a Scholarship, you invest in your community's future and show students you care. Your community foundation provides the expertise to help you meet your personal goals and awards Scholarships to deserving students. Your gift can help students - from preschool to postgraduate - achieve their lifetime dreams.
Designated Funds
Helping local organizations sustain and grow.
Establishing a Designated Fund allows you to support the good work of a specific nonprofit organization - a senior center, museum, or virtually any nonprofit charitable organization. Because it's given through your community foundation, your gift provides the organization you select not only funding, but planned giving and investment management services and the power of endowment.
Endowing your nonprofit organization.
Nonprofit organizations can also establish a Designated Fund or agency endowment at the community foundation. It's a simple and efficient way to build an endowment - and help create sustainability - for your nonprofit organization. The community foundation's experienced staff can also help your organization develop planned giving programs and assist with investment management and administrative details.
Supporting Organizations
High impact, high involvement, low hassle.
A Supporting Organization is an excellent alternative to a private foundation - with only a fraction of the administrative responsibilities. You select some of the board members, maintain personal involvement, and support the causes you care about most while enjoying the favorable tax treatment of a public charity. Leave investment management, startup costs, grant administration, and reporting to your community foundation.
Donor Advised Fund
A personal approach to giving.
Opening a Donor Advised Fund allows you to make a gift to your community foundation, then remain actively involved in suggesting uses for your gift. You can work with our professional program staff to suggest ongoing uses for the fund - targeting the issues you care about the most. Grant awards are issued to charities in the name of the fund (or anonymously if you prefer). It's a simple, powerful, and highly personal approach to giving.
Donor Advised Funds are convenient, flexible tools for individuals, families, businesses, or groups that want to be personally involved in suggesting grant awards made possible by their gifts. If you have a range of community interests, you may find that it's an ideal vehicle for fulfilling your charitable wishes. Donor Advised Funds are typically less costly and easier to administer than other forms of philanthropic giving (such as family or corporate foundations).
Your gift can be combined with others to increase its impact, and you can add to the fund you establish at any time, receiving tax benefits with each new gift. You can establish a fund today and make grant recommendations now or in the future. And if you endow your gift, it becomes a permanent community funding resource.
Example Donor Stories: Individual, Family, Business
Individual Donor
A personal connection.
When Alex Dorado retired, he wanted a way to give more to his community. "I've lived here my whole life, and now that I have more time and resources, I can give back to a number of causes and organizations that are very special to me," he says. Alex and his financial advisor met with their community foundation to discuss ways Alex might increase the impact of his giving and gain maximum tax advantage. Alex chose to establish a Donor Advised Fund in his family's name. He now meets with the community foundation's professional program staff to recommend grants in the areas he cares about most. "Last year, based on my recommendations, the fund bought uniforms for an after-school sports league and supported an adult literacy program," reports Alex. "This is a great way to stay involved and use what I have to make a difference in the community I love."
Family Donor
Sharing family values.
"We wanted to share our community values with our children and share our family values with our community," says Sara Lin, explaining why she and her husband Peter established the Lin Donor Advised Fund at their local community foundation. Every year, the Lins and their children meet with community foundation staff to recommend uses of the fund. Two years ago, they recommended that it be used to help start an inner-city daycare center. Last year, the fund helped expand the hours of this center, in addition to supporting an area arts camp. "We look forward to a day when we might involve our children's children in giving back," says Sarah.
Business Donor
A better approach.
TRI, a company with a tradition of giving back, receives many requests for donations. In the past, company president Anthony Hall found it hard to decide which appeals to respond to… and even harder to know if his company's charitable gifts made a difference. Three years ago, the company established a Donor Advised Fund at the local community foundation. Each year, partners add a percentage of profits to the fund. A team of employees from TRI meets with the community foundation to review local needs and recommend grants. Anthony says, "Our company is able to do much more through our community foundation."
Opportunities
Year-end tax planning: Just earned a large bonus, but no time to decide on the most deserving charities? Establish a Donor Advised Fund for an immediate tax deduction, and stay involved in your gift for years to come.
Simple alternative to private foundations: Thinking about establishing a private foundation, but looking for a better, simpler way? Or, frustrated with the ongoing management of your private foundation? Establish a Donor Advised Fund (or Supporting Organization) and stay personally involved with the distribution of gift dollars. Use community foundation grant expertise for community knowledge and greater impact.
Strategic giving: Passionate about meeting a specific community need and want to make a meaningful gift? Community foundation uses expertise in local need to recommend ways to make the greatest impact.
Sale of a business: Own highly appreciated stock in a company that is about to be acquired? Structure a charitable gift of stock before the company is sold to reduce capital gains and increase charitable deductions. Establish a Donor Advised Fund so a once-in-a-lifetime event can help you do good, forever.
Closely held stock: Personal net worth tied up in a closely held company, but want to give back? Donate a portion of company stock to the community foundation; company may buy it back for fair market value. Establish a Donor Advised Fund or planned gift; you are eligible for a tax deduction at the fair market value of appreciated stock (less any planned gift value).
Preserving an estate: Estate planning identifies significant taxes going to the IRS, but want to keep tax dollars local? Reduce taxable estate through charitable bequest or other planned gift. Create personal legacy in community that stays true to your charitable intent forever.
Unrestricted Fund
Meeting ever-changing community needs.
When you establish an Unrestricted Fund, your gift can address a broad range of local needs - including future needs that often cannot be anticipated at the time your gift is made. We evaluate all aspects of community well-being: arts and culture, economic development, education, environment, health and human services, neighborhood revitalization, and more. The flexibility of your unrestricted gift enables your community foundation's program experts to respond to the community's most pressing needs, today and tomorrow.
Because you set no restrictions on the use of your gift, it enables our experienced program staff and board to do what they do best - assess community needs and respond by awarding grants to the nonprofit organizations that undertake our community's most critical work. Unrestricted Funds enable your community foundation to support long-term solutions; respond quickly to emergencies; and meet changing social, cultural, educational, or environmental needs in our local community.
Grants are made in the name of the fund you establish, creating your personal legacy of giving. You may give your gift immediately or through your will or other estate planning strategy. If you endow your gift, it becomes a permanent community funding resource.
Example Donor Story
A lasting legacy.
Peggy and Ed Gibb always made giving to their community a personal priority. In meetings with their professional advisor, they began to consider including a bequest that would benefit their local community. "Peggy and I care a lot about this town," says Ed. "We wanted to give in a way that would continually help the people who live here." After considering their options, the Gibbs decided to establish an Unrestricted Fund with their local community foundation. The Gibb Community Fund would take effect after they both passed away, leaving a portion of their estate to charity. "By establishing an Unrestricted Fund, we were able to keep our gift from becoming outdated. Community needs change, so we wanted to make sure our gift wasn't too narrowly focused," says Peggy. "Because it's endowed at the community foundation, our gift will make a difference forever," Ed says. "It will grow over time and become a more and more valuable asset for our community. This is exactly the legacy Peggy and I want to leave."
Field of Interest Fund
Connecting personal values to high-impact opportunities.
By establishing a Field of Interest Fund, you can target your gift to address needs in an important area of community life. Arts. AIDS. Aging. At-risk youth. Our board awards grants to community organizations and programs that are making a difference in the area you select. Your gift stays flexible enough to meet community needs in your interest area - even as they change over time.
While you direct the Field of Interest Fund you establish from its creation, the maintenance is left up to us. Our professional program staff continually monitors changing community needs so that you can be sure grants made in the name of your fund make the most impact in your field of interest and create your personal legacy of giving.
You can add any amount to the Field of Interest Fund you establish at any time - and so can others who share your interests in community. If you endow your gift, it becomes a permanent community funding resource.
Example Donor Story
A personal mission unforgotten.
When they lost their adult daughter, Susan, to cancer, the Perez family received hundreds of contributions from people throughout the community. Susan had been a high school teacher, so many of the contributions came from fellow teachers and from parents of the students whose lives she had touched. "Susan cared so deeply about her work," says Mrs. Perez, "and we wanted to use the money to continue in that spirit of helping children through their education." The Perez family spoke with their local community foundation and decided to establish the Susan L. Perez Education Fund, a Field of Interest Fund that memorializes their daughter by supporting local educators and students. "We chose to begin this kind of fund because education is so dynamic," says Mr. Perez. "We realize that we aren't always aware of what our school system needs and how it works, and we wanted to be sure that, even years from now, grants made in Susan's name make sense for our community."
Scholarship
Investing in deserving students.
In creating a Scholarship, you invest in your community's future and show students you care. Your community foundation provides the expertise to help you meet your personal goals and awards Scholarships to deserving students. Your gift can help students - from preschool to postgraduate - achieve their lifetime dreams.
You can create a Scholarship as a memorial to someone special, selecting eligibility criteria that exemplify that person's goals and values. Or, you may use it to express your educational values - or those of your family or business. Depending on your preferences, the Scholarship you establish can support any area of academic need, including tuition, room and board, and books. Our program staff tracks performance to ensure students continue to meet the terms for Scholarship support.
If the Scholarship you establish is renewable, you can review updated information on the progress of recipients over the years. You may even elect to meet these students - something many donors find rewarding.
Example Donor Story
Valuing education.
A couple of years into a comfortable retirement, Mr. and Mrs. DiAngelo, both retired teachers, realized how much they missed making a difference in the lives of students. "For both of us, education was not only a profession - it was a calling," says John DiAngelo. Looking for a way to stay involved, the DiAngelos started a Scholarship with their community foundation. They wanted Scholarships made in their name to benefit students interested in becoming teachers. "The community foundation helped us create our legacy. It's a wonderful feeling to let students know we still care," says John. "The community foundation does all the administrative work involved in determining the most deserving students," says Rose DiAngelo. Over the past three years, The DiAngelo Education Fund has provided six Scholarships to the next generation of teachers.
Designated Fund
Helping local organizations sustain and grow.
Establishing a Designated Fund allows you to support the good work of a specific nonprofit organization - a senior center, museum, or virtually any nonprofit charitable organization. Because it's given through your community foundation, your gift provides the organization not only funding, but also the power of endowment. Your gift provides more than just funding - your favorite organization will benefit from your community foundation's investment stewardship and help with administrative details.
You can add to the fund at any time. If the organization you select ceases to exist or changes in mission, the fund can be redirected so that it continues to address your original charitable intent.
Endowing your nonprofit organization.
Nonprofit organizations can also establish a Designated Fund or agency endowment at the community foundation. It's a simple and efficient way to build an endowment - and help create sustainability - for your nonprofit organization. We handle investment management and the administrative responsibilities related to endowment so that your organization's staff and volunteer hours are concentrated on fulfilling your mission.
Your donors can be sure that the endowment fund's principal will not be spent and can grow over time, providing a source of lasting support. And the community foundation's economies of scale provide your organization the benefits of a diverse investment portfolio and low investment fees that typically come only with very large funds.
Your organization's regular donors can leave a bequest through the community foundation to benefit your organization forever and create a personal legacy. The community foundation can facilitate even the most complex planned gifts or gifts of appreciated stock or real estate.
Example Donor Stories: Individual, Nonprofit Organization
Individual Donor
A source of strength and stability.
Three times a week, Wendell Pittman delivers meals to homebound senior citizens as a volunteer for Meals for Seniors. While the organization has benefited from volunteerism and community recognition for over a decade, it depended largely on small donations and lacked a more predictable funding source. "Our organization needed more reliable funding, but we had trouble accepting large or complex gifts," says Mary Lynch, Meals for Seniors' executive director. After talking with Mary and with his financial advisor, Wendell decided to begin a Designated Fund with his local community foundation. He donated a piece of rental property that was becoming a bother in his retirement. The community foundation immediately sold the property and established the Meals for Seniors Fund. Thanks to this fund, other donors can contribute assets of a variety of types and sizes. "We're thrilled to be working with our community foundation," says Mary. "Meals for Seniors would not have been able to do this on its own."
Nonprofit Organization
Developing permanence.
Dress to Work helps low-income individuals transition out of underemployment by providing career training, mentoring, and professional attire. Like many nonprofits, it struggles to cover operating expenses. Over the years, several of its volunteers have offered to contribute gifts of appreciated stock or real estate, but Dress to Work did not have the ability or expertise to accept those types of gifts. Executive director Jenny Pike says, "We simply didn't have the sophistication to handle some kinds of gifts. It was so frustrating to turn away willing donors." As a result of establishing the Dress to Work Designated Fund at its local community foundation, the organization has added the ability to accept large and complex gifts. Plus, it was able to develop a planned giving program and a permanent endowment, providing a regular stream of support and leaving the management and reporting to the community foundation.
Supporting Organization
High impact, high involvement, low hassle.
A Supporting Organization is an excellent alternative to a private foundation - with only a fraction of the administrative responsibilities. You select some of the board members, maintain personal involvement, and support the causes you care about most while enjoying the favorable tax treatment of a public charity. Leave investment management, startup costs, grant administration, and reporting to your community foundation.
Though connected to the community foundation, the Supporting Organization you establish is a separate charitable entity - that bears your name, the name of your family or business, or honors any person or organization you choose.
You select up to 49 percent of your board of directors; the community foundation assigns the rest (so that you benefit from affiliation with a public charity). You and future generations may appoint successor board members to help direct the Supporting Organization you establish and define its purpose and mission.
Your contributions may yield a greater tax deduction than those made to a private foundation, and the Supporting Organization is not subject to other private foundation rules and regulations, such as paying an excise tax or making a minimum payout each year. Working through your community foundation, you have the choice of receiving recognition or remaining anonymous in your giving.
Several efficiencies preserve your charitable assets and allow you to make the impact you desire. The startup and administration is simple and allows your board to begin issuing grants right away. And through the years, your community foundation provides local grantmaking expertise, reporting services, and management of the Supporting Organization's assets by investment professionals.
Example Donor Story
Maximum involvement, reduced work.
Ethel and Dave Steen were about to sell their decades-old family business. Over the last couple years, they had discussed using a portion of the proceeds to establish a charitable foundation. "Our community had given us our livelihood, and we want to say 'thank you,'" says Ethel. "But we also want to enjoy our retirement. I was surprised at the time, energy, and money it takes to start and manage a private foundation." The Steens wanted to make a big and positive impact but were not sure that they could consistently identify their community's most pressing needs. After talking to their professional advisor, the Steens decided to establish The Steen Foundation for Giving, a Supporting Organization affiliated with their community foundation. "Our son and granddaughter sit on the board with us, so we get the involvement and togetherness we were looking for," says Dave.
There is so much more we'd like you to know. For more information and ideas on ways to integrate your financial planning with charitable giving, ask your financial advisor or contact the Community Foundation for the Twin Tiers (cftt@stny.rr.com).
